TechNavio recognizes the following companies as the key players in the Global Software Testing Services Market in BFSI Sector: Accenture plc, Capgemini SA, IBM Corp., and Wipro Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The Global Software Testing Services market in the BFSI sector is characterized by a lack of skilled and qualified personnel to meet the Testing industry standards. Therefore, this trend has affected many businesses and their efforts to deploy quality production. The biggest challenge involving this trend is that financial companies are finding it difficult to determine which functions of the software production should be taken care of by in-house personnel and which should be outsourced to third-party service providers. The challenge is aggravated in the case of high-end and specific areas of industrial and specific knowledge. Therefore, responsibilities that are attached to the role of a business analyst are being taken care of by in-house personnel and functions involving testing and quality assurance are being increasingly outsourced to the independent software testing vendors.”
According to the report, one of the main growth drivers is the need to reduce operational time and cost. The market is witnessing increasing demand for testing software from companies because the quality of applications is highly dependent upon testing. Hence, to avoid poor execution, slow test turnaround or excessive costs in the software’s lifecycle, companies are relying more on testing services, thereby increasing the adoption of the outsourced software testing services.
Further, the report states that one of the major inhibitors of the market growth is the lack of control over data. When software testing is outsourced to a third-party service provider, access to production data is required in order to replace it as test data for conducting tests. Therefore, financial firms have limited control over their data as it resides with the service provider, and this raises concerns about the misuse of the data.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-software-testing-services-market-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Software Testing Services Market in BFSI Sector 2012-2016
